3 Dividend-Paying Tech Stocks to Buy in August
Big technology names like Amazon, Netflix, and Facebook get the most attention from investors, but older businesses that pay dividends can also be fantastic stocks over the long term. Patient investors can benefit from a rising share price and passive income when stocks can balance revenue growth with dividend payouts. Here are three stocks that fall into this category.
Cisco Systems (NASDAQ: CSCO) (dividend yield: 2.6%) manufactures and sells hardware and software for networking and telecommunications. Its products help businesses communicate better, faster, and more securely, a huge need in an increasingly digital business environment. The continued advancement of wireless technology from 3G to 4G, and now 5G, creates a need for businesses to upgrade their in-house equipment and update products in the field, both of which will drive business for Cisco going forward.
Cisco did more than $49 billion in revenue in 2020 and is expected to grow by 1% this year before accelerating growth to almost 5% in 2022. While Cisco's revenue growth outlook is modest, it's very profitable, generating more than $14.6 billion in free cash flow in 2020.
Source Fool.com
